Dow Leads Stock Market Lower On Earnings; S&P 500 Loses Key Level

The inventory marketplace added losses Friday because the Dow Jones Industrial Average tumbled 1.1% and the S&P 500 made new lows for April.


Two Dow elements fell on income whilst Caterpillar (CAT) gapped right down to a three% loss.

Verizon (VZ) fell just about 5% after the corporate’s up to date 2022 benefit outlook got here in on the decrease finish of earlier steering. Verizon’s first-quarter adjusted income edged above estimates whilst income met perspectives. The inventory broke out of a cup-with-handle base Thursday, however dipped beneath the 54.80 purchase level in Friday morning buying and selling.

American Express (AXP) fell 0.5% and continues to shape a cup-with-handle base in spite of slipping beneath the 50-day transferring moderate. The bank card corporate beat first-quarter income expectancies and reaffirmed its 2022 steering early as of late.

The S&P 500 misplaced 0.8% and undercut Monday’s low of 4370. The Nasdaq composite fell 0.1% after trimming previous losses.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 34398.22 -394.54 -1.13
S&P 500 (0S&P5) 4357.79 -35.87 -0.82
Nasdaq (0NDQC ) 13161.10 -13.55 -0.10
Russell 2000 (IWM) 196.84 -0.96 -0.49
IBD 50 (FFTY) 35.33 -0.07 -0.20
Last Update: 10:06 AM ET 4/22/2022

Small caps were not spared because the Russell 2000 misplaced 0.5%.

Volume fell at the NYSE and Nasdaq in comparison with the similar time on Thursday.

Bearish Week For Stock Market

The week is finishing with bearish motion within the inventory marketplace indexes following bearish value reversals Thursday that got here with wider value levels than in earlier days.

The Nasdaq met resistance on the 50-day transferring moderate Thursday, whilst the S&P noticed dealers arrive after seeking to reclaim the 200-day line. IBD’s marketplace outlook stays “uptrend under pressure,” which requires wary buying and selling and elevating some money.

Innovator IBD 50 ETF (FFTY) fell 0.2%.

IBD 50 inventory Cleveland-Cliffs (CLF) jumped just about 10% in heavy buying and selling, regaining the 21-day exponential transferring moderate. The steelmaker beat Q1 estimates and boosted its moderate promoting value forecast by means of $220 to $1,445 according to web ton.

In different income information, HCA Healthcare (HCA) plunged just about 15% in heavy quantity after the health center operator decreased its full-year income and income forecasts, mentioning upper exertions prices. The inventory broke out of a flat base Wednesday however sank beneath the 272.36 purchase level Thursday. This morning, it traded 12% beneath the access, inflicting a promote sign.

The inventory marketplace had little response to the most recent S&P Global buying managers index. The flash U.S. composite output index fell to a three-month low of 55.1. The U.S. Services Business Activity Index fell to a three-month low of 54.7. Both had been beneath economists’ estimates.

The flash production index rose to a nine-month top of 57.4 from 56.1 in March. And the producing PMI index hit a seven-month top at 59.7, above estimates.


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